EastWest Bank chairman increases stake in the bank
East West Banking Corp. disclosed that its chairman, Jonathan Gotianun has shored up his holdings in the lender with the purchase of an additional 360,500 shares.
The shares were bought from June 6 to 28 at a price ranging from P14.40 to P14.88 apiece
Following the latest purchase, Gotianun now holds 0.72 percent or 16.27 million shares in the company
The move shows that Gotianun has confidence in the future of the bank.
East West closed four centavos higher Friday at P14.59 each share.
The bank plans to raise P10 billion through a stock rights offering by the end of the year. Apart from this, the Gotianun family is still open to bringing in a foreign strategic partner which can add value to EastWest Bank.